Preakness Stakes Betting Guide – All You Need to Know in 2023

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Last Updated on: 27.02.2023

The Preakness Stakes is an American Grade 1 horse race that takes place each year on the third Saturday in May, over a distance of 9.5 furlongs of dirt at the Pimlico Racecourse in Baltimore, Maryland, USA. This Preakness Stakes betting guide will introduce you to everything you need to know about this great race!

Tournament Structure for the Preakness Stakes

The race runs on dirt on the third Saturday in May over a distance of 9.5 furlongs. In terms of weights, colts and geldings carry 126 pounds, while fillies carry 121 pounds. The race is held at Pimlico Racecourse which takes its name from the 1660s, when settlers from England named the area after Olde Ben Pimlico's Tavern in London. Today, the racetrack carries the nickname ‘the Old Hilltop’ after a small rise in the infield.

13 runners usually take part in the Preakness Stakes. The Run for the Black-Eyed Susans offers the winner the second of the three biggest prizes in US horse racing and Black-Eyed Susans, the state flower of Maryland, are draped over the winning horse. This is also why the race is often called ‘The Run for the Black-Eyed Susans’.

The race is the second part of the Triple Crown, held two weeks after the Kentucky Derby and three weeks before the Belmont Stakes.

Best Betting Sites for Preakness Stakes

William Hill
  • Major US presence
  • Special Triple Crown promotions
  • Bet £10 get £30 in free bets, credited as 2 x £15 bets

New customers using Promo code H30 only, Min £10/€10 stake, min odds 1/2, free bets paid as 2 x £15/€15, free bets credited after settlement of first qualifying bet, free bets will expire 30 days after the qualifying bet is placed, payment method/player/country restrictions apply. See full terms below. Full T&Cs apply. #ad

  • Ante-post at Pimlico
  • Daily acca boosts
  • Withdraw cash on high street with The Grid

18+ New UK+IRE Customers only. Certain deposit methods & bet types excl. Min first 5 bet within 14 days of account reg at min odds 1/2 = 4x 5 free bets. Free bets valid for 7 days, stake not returned. No cashout, restrictions + Full T&Cs apply. #ad

Betfair logo
  • Ante-post odds at Pimlico
  • Best Odds Guaranteed on mobile
  • UK’s biggest betting exchange

New customer offer. Place a min £10 bet on the Sportsbook on odds of min 1/2 (1.5), get £30 in Free Bets. Rewards valid for 30 days. SMS verification required. Only deposits via cards or Apple Pay will qualify. T&Cs apply. Please Gamble Responsibly.Full T&Cs apply. #ad

Paddy Power logo
Paddy Power
  • Worldwide streaming on US horse racing
  • Offer extended odds on world's biggest races
  • Bet £20 and get it back if it loses

New Customer Offer. Place your FIRST bet on any Sportsbook market and if it loses we will refund your stake in CASH. Max refund for this offer is £10. Only deposits made using cards will qualify for this promotion. T&Cs apply. Full T&Cs apply. #ad

  • Highly competitive Preakness betting odds
  • Build Your Bet feature
  • Bet £10 get £30 + £10 casino bonus

18+ Minimum deposit of £10 using deposit code 30F - A qualifying bet is a ‘real money’ stake of at least £10 placed on any sports market - Minimum odds of 1/2 (1.5) - Free bets credited upon qualifying bet settlement and expire after 7 days - Free bet stakes not included in returns - Casino Bonus must be claimed within 7 days. To withdraw bonus/related wins, wager bonus amount x40 within 14 days. Wagering requirements vary by game. Deposit methods, Withdrawal restrictions and Full T&Cs apply. #ad

Preakness Stakes Betting Odds, Promotions, Tips & Predictions

We will publish more information about the 2023 Preakness Stakes once it has been confirmed. Until then, read on for how to bet on this event, and find out what the best Preakness Stakes betting markets are.

Preakness Stakes Betting Odds 2023

We will publish the latest betting odds for the 2023 Preakness Stakes here once the start date of the event draws closer. In the meantime, feel free to check out our updated horse racing racecards for today and tomorrow's races.

Preakness Stakes Betting Tips & Predictions 2023

Our expert tips and predictions will be added here as the race approaches.

Preakness Stakes Betting Promotions 2023

  • We suggest you take advantage of the welcome offer at Betfred, where newcomers can enjoy £40 when they bet their first £10.
  • Another great betting site that offers a sweet deal for new sign-ups is Coral, where you can make the most of Preakness Stakes betting by claiming £20 in free bets in return for a £5 initial bet.

5 Reasons to Bet on the Preakness Stakes

  • This is one of the world’s biggest horse races.
  • It is also one of America’s most prestigious runs.
  • It makes up a critical leg of America’s Triple Crown.
  • Some of the world’s top equine talent will be on show.
  • Preakness Stakes betting is among some of the best in the sport.

Preakness Stakes Betting Sites With Live Streaming

  • Unibet
  • 888sport
  • bet365
  • Paddy Power
  • Betfair

Popular Preakness Stakes Betting Markets

Horse racing and betting go hand-in-hand, and were basically made for each other. This is why you will always find a plethora of exciting wagers that can be made on even the most minor of races. However, there is nothing minor about the American classic that is the Preakness Stakes. Below, we've compiled the most valuable and popular betting markets this event has to offer.

Winner Betting

A winner bet is a bet placed on the outcome of a race or other such event; in this instance, the Preakness Stakes. For this bet, you simply make your prediction on the horse that you think will win the race, by which we mean coming first. By taking the best betting odds and backing your prediction up with some real money, you have a chance to make a very tidy profit – but only if your horse is the first past the post.

Best Preakness Stakes betting site for winner betting: Coral

Each-Way Betting

Each-way bets consist of two parts. The first part of the bet is a wager on your pick to win, exactly as above. The second part of the bet is a place bet where your horse can finish in the designated places. Traditionally, this would mean ¼ of the odds for a horse to finish in the top three in a race with this many runners. These days, for big races such as the Preakness Stakes, online bookmakers will often run promotions on the number of places paid – so keep a lookout for these offers.

Best Preakness Stakes betting site for each-way betting: Betfred

Forecast Betting

Forecast bets, sometimes referred to as straight forecasts, are bets where you pick two selections in a race to come 1st and 2nd in the exact order. Forecasts typically apply to horse racing and dog racing, where you select the first two horses (or dogs) home in the correct order. The amount the forecast pays is announced after the race according to the official industry forecast return and pays to the pound – so it's important to remain patient until this announcement is made.

Best Preakness Stakes betting site for forecasts: BoyleSports

Tricast Betting

Tricast bets are commonplace in horse racing and work in the same way as forecasts but, whereas forecast bets are made on only two horses, tricast bets are extended to three horses. Here, you'll need to predict which horse will finish in first place, which will finish in second place and which will finish in third place.

Because it is no easy thing to predict the first three horses to come first, second, and third in the correct order, tricast bets can result in large returns for a small wager. Again, winnings are paid to the pound according to the official industry forecast return.

Best Preakness Stakes betting site for tricasts: Betfair

History of the Preakness Stakes

The Preakness Stakes is part of a long heritage of racing in Maryland, predating the Kentucky Derby by two years after first being run at Pimlico Race Course on May 27, 1873. The race gets its name from a colt named Preakness, who was the Dinner Party Stakes winner on the course’s first day of racing and was named by Maryland governor Oden Bowie. In 1890, Morris Park Racecourse in the Bronx, New York hosted the race, after which it wasn’t staged for three years until picking things up again in 1894. It was held again in New York, this time at the Gravesend Race Track on Coney Island, until returning to Pimlico in 1909.

110 years later, in 2019, an agreement was put in place with the city of Baltimore to permanently keep the Preakness at Pimlico. Past winners include American Pharoah, who also ended a 37-year wait to win the Triple Crown in 2015, a collective award for America’s three most famous horse races: the Kentucky Derby, the Belmont Stakes, and the Preakness Stakes.

Recent Preakness Stakes Winners

2022Early VotingJosé OrtizChad Brown
2021RombauerFlavien PratMichael W. McCarthy
2020Swiss SkydiverRobby AlbaradoKenneth McPeek
2019War of WillTyler GaffalioneMark E. Casse
2018JustifyMike SmithBob Baffert
2017Cloud ComputingJavier CastellanoChad Brown
2016ExaggeratorKent DesormeauxJ. Keith Desormeaux
2015American PharoahVictor EspinozaBob Baffert
2014California ChromeVictor EspinozaArt Sherman
2013OxbowGary StevensD. Wayne Lukas
2012I'll Have AnotherMario GutierrezDoug O'Neill

Preakness Stakes Key Stats

  • In 2004, Smarty Jones set a record margin of recovery when he won the race by a distance of 11 1/2 lengths.
  • Eddie Arcaro holds the record for the most wins as a jockey here with six.
  • Wyndham Walden and Bob Baffert share the record for most wins by a trainer, with seven victories each.
  • The most successful owners – and breeders – in the Preakness are Calumet Farm, who have seven winners.
  • In 1973, Secretariat recorded the fastest ever winning time in the Preakness Stakes of 1:53:00.
  • 2020 winner Swiss Skydiver was the first filly to win the race since Rachel Alexandra in 2009, who, back then, had been the first filly to win since 1924.
  • In all, six fillies have won the Preakness.

Similar Tournaments to the Preakness Stakes

  • 11th June 2022, Belmont Stakes: As you might have guessed, this is the other leg of America’s Triple Crown and is run at Belmont Park in New York.
  • 4th June 2022, Epsom Derby: As English summer’s premier flat race, this year it takes place on the same day as the Belmont too – how’s that for a double?
  • 6th May 2023, Kentucky Derby: This is the first leg of the American Triple Crown and is held at Churchill Downs in Louisville, Kentucky, USA annually each May.

Upcoming Sporting Events

Preakness Stakes Betting FAQs

The best sites for betting on the Preakness are William Hill, Ladbrokes, and Betfair.
The 2022 Preakness Stakes was broadcast live on Sky Sports in the United Kingdom.
The race takes its name from the national flower of Maryland, the state where Baltimore is located.
The race is run over a distance of nine and a half furlongs, which is one and 3/16th of a mile.
The winner takes home $600,000, as well as the coveted Woodlawn Vase, which was created by Tiffany & Co. back in 1860.
Yes, you can, but you should know that only 13 horses in history have won the coveted Triple Crown.
Of course. After all, each-way bets are highly popular with horse racing punters.

ThePuntersPage Final Say

Baltimore’s Preakness Stakes is one of American horse racing’s premier races. In fact, it is the Middle Jewel of America’s prestigious Triple Crown and is widely referred to as the ‘Run for the Black-Eyed Susans’ after the state flower of Maryland.

The race runs on the third Saturday in May at Baltimore's Pimlico Race Course, when horse racing fans the world over stop whatever they’re doing to watch this elite equine contest. By now, we hope that Preakness betting guide has brought you up to speed about wagering on the run for the Black-Eyed Susans – now it's up to you to test your luck and place that bet!